Egypt’s benchmark index EGX30 rose 1.8% last month, closing May at 32,697, according to the EGXmonthly report (pdf). The market cap of EGX30 stocks rose 0.2% during the month to EGP 1.3 tn.

A look at trading activity throughout the month: The total value traded declined 18.1% to EGP 1.1 tn. In contrast, the total volume traded increased 117%, reaching 57.8 bn securities. Equity trading accounted for only 9.1% of total value traded last month, while bonds and bills made up the remainder.

How the EGX fared against regional, int’l benchmarks: Tadawul’s benchmark index shed roughly 4.8% in May, its biggest monthly decline this year. Meanwhile, the Abu Dhabi Securities Exchange (ADX) benchmark rose 1.2%, and the Dubai Financial Market (DFM) benchmark gained 3.3%. Globally, the S&P 500 index rose 6.2%, the FTSE 100 jumped 3.3%, and the Euro Stoxx 600 rose 4.0%.

Real estate stocks were the most traded (excluding block trades): Real estate came on top in terms of value traded with EGP 19.4 bn worth of transactions, followed by NBFS (EGP 14 bn), food, beverages, and tobacco (EGP 7.2 bn), basic resources (EGP 6.5 bn), and banks (EGP 5.3 bn). Non-Egyptian investors were net sellers in the three most traded sectors.

Local investors dominated trading last month, making up around 86.6% of the value traded in listed stocks (excluding block trades). Foreign investors accounted for about 6.6%, while regional investors made up 6.8%. Regional investors were net sellers, offloading around EGP 2.8 bn. While retail investors led most of the action in the local and regional investors categories, institutional investors accounted for the bulk of the foreign investor transactions.

Snapshot of the YTD value traded breakdown by investor type: Since the beginning of the year, local investors represented 89% of the total value traded, foreign investors made up 5%, and regional investors accounted for the remaining 6%.

Foreign + regional investors showed confidence in our debt: Local institutional investors were net sellers on the debt capital market with EGP 95.4 bn in net sales, regional investors bought a net EGP 53.7 bn worth of bonds and bills, and foreign investors bought a net EGP 41.2 bn. Retail investors were all net buyers, snapping up a combined EGP 439.1 bn.

How other local indices fared: The EGX33 Shariah index rose 0.6% last month, and the Tamayuz index, which tracks the performance of small and medium-sized businesses, jumped 11.2%.

Listings + rights issues: May saw one listing of U Consumer Finance — which owns and operates the fintech giant Valu — and one rights issue by Premium Healthcare Group.

EFG Hermes’ brokerage arms led the EGX brokerage league table (pdf) in May with a combined 13.1% market share, followed by Arabeya (11.4%), Mubasher (7.1%), Thndr (6.3%), and Cairo Capital (6.0).

Looking ahead: EGX30 is poised for further growth during the summer, supported by recent interest rate cuts and reduced inflation, financial analyst Mohamed Al Najjar told us yesterday. He also highlighted the positive impact of raising the real estate tax exemption threshold, which could boost listed real estate firms and broader investor sentiment.

While real estate and non-banking financial services led recent market gains, Al Najjar believes industrial sectors will drive the next phase of growth. Al Najjar also criticized the lack of IPO activity on the exchange, noting that only one offering occurred since late 2024, compared to several in regional markets. He warned that summer IPOs may not gain traction and urged a focus on offerings in 3Q or early 2026 for stronger investor engagement.

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